Bernie Sanders’ Economic Plan
The countdown in America for the Presidential election is quickly approaching, and the heat between the presidential candidates continues to rise. One candidate with greatly mixed views is Bernie Sanders. Many value the morals of this particular candidate, yet are skeptical of his economical plan for the US. His ideas are commonly seen as socialistic, which is true to an extent.
Sanders strives to reorder where funding goes to in order to provide the American people sufficient support. Yet, while the people in general are in his best interest, the actions Bernie plans to take requires a rise in taxes. In addition to increasing taxes, Sanders plans to expand Social Security pensions. According to the article A Vote for What?, “Totting up all the levies, the top marginal rate of federal tax-- which would be levied on households earning more than $10m-- would rise about 67%” (“A Vote”). This is a concerning number for those who have worked hard for the money they’ve made. Bernie’s intent with levying the taxing a bit more heavily on those with higher incomes also serves to even out the income levels and poverty gap.
According to Sanders’ plans, “The tax rates supported by Sanders includes 0.5 percent on all stock trades, 0.1 percent on all bond trades, and 0.0005 percent on all underlying values of derivative trades, such as the value of a stock in a stock option asset” (Collin). While much of the money gathered by taxes will be used for funding such as medical care, and infrastructure, much is also used for important trading that the entirety of the population uses.
At this point, we have reached a point in taxes that they are not our main concern. The idea of raising taxes greatly worries anyone who will have to pay them. Though, the raise in taxes serve to not only even out the gap between incomes, but also fund major services that are useful to the entirety of the community. The question is whether or not they are worth personal wealth.
Works Cited
“A Vote for What?” Bernie Sanders’ economic policy. The Economist Newspaper Limited, 2016. Web. 3 June, 2016.
Pollin, Robert. “Bernie Sanders Will Make the Economy Great Again.” Economics. The Nation Company LLC., 2016. Web. 3 June, 2016.
I agree wholly that we should sacrifice a few extra bucks out of out wallets to provide to the unfortunate people who need what we have been gifted with. Although not many people around us support this idea, I believe we are approaching a society where we focus more on collectivism, rather than individualism.
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